The operation of Efling union was extremely strong in the fiscal year 2025. Revenue increased by 16% year over year, profit improved by 301 million krona and the financial position of the union was considerably strengthened.
Annual report of Efling trade union for the year 2025 was approved by the board of the union today, March 12, 2026. The results of the 2025 fiscal year are extremely positive. The union is in a better position than ever before, with a strong revenue base, modest growth in operating costs and even better profitability, at the same time as purposeful development for the benefit of the members took place.
Total income of the year for the union was 1,3 billion krona, which is comparable to the income in 2024.
Significant revenue growth
Total revenue Efling of the union amounts to 4,2 billion krona in 2025, which is 579 million krona higher than in 2024, or an increase of 15,9%. Membership fees increased by 452 million and income from holiday homes and other services also grew, reflecting both an increase in members and greater activity in the union's operations.
Despite challenges in domestic and foreign markets, among others due to high interest rates and weak yields that affected revenue, Efling has maintained its operations on a safe and positive basis. This underscores prudence, responsibility and discipline in the operation of the association.
Costs increased less than was estimated
The union's expenses, including disbursed benefits and grants, increased by 3.5 billion krona, which is an increase of 8.6%. However, the operating costs of the union's office decreased by a substantial 6 million krona year over year. This clearly shows prudence and good management of the union's operational components. Salary and staff costs rose in line with increased projects and the proliferation of permanent positions, as well as collective agreement wage increases.
In that year, numerous investments and improvements were also undertaken that strengthen the long‑term prospects of the union and improve services for members. This includes renovation of premises and development in information technology, as well as substantial upgrades to holiday houses, which contribute to better utilization and increased quality in services that will benefit the union’s members in the future.
The profit strengthens
The operating result of the year was 722 million crowns, which is a significant improvement from 421 million in 2024. Capital income Efling was 563 million crowns. Despite market fluctuations, the capital income remained strong. The result shows that Efling responds well to a changing economic environment with targeted and responsible actions.
Assets and equity continue to grow
Total assets increased by approximately 1.5 billion krona, or 8.9%, and reached roughly 18.2 billion krona at the end of the year. Major projects and investments in infrastructure and services are key factors in this increase.
Equity increased by 1.345 million krona, or 8.3%, and stood at the end of the year at about 17.6 billion krona. This reflects the strong financial position and sustainable operating policy of Efling trade union.
Vision and responsibility deliver results
„The results of the year reflect how we have placed a strong emphasis on responsible finance, transparency and forward‑looking decision‑making. We have worked systematically to improve internal processes, strengthen the union’s operational base and ensure better service for members. The operation is performing well but due to difficult conditions in capital markets the return on the union’s funds was below expectations,“ says Perla Ösp Ásgeirsdóttir, CEO Efling.
At the same time that the operation has been reliable, Efling has also taken targeted actions to build infrastructure for the future, strengthen services and ensure that the association stands strong against the challenges that accompany a fluctuating economic environment.
Better equipped than ever before
Financial stability, competence and progressiveness are now decisive factors in the association's activities. Efling therefore stands better positioned than ever before, financially, organizationally and service-wise, and will continue on the same path with responsibility, competence and ambition as a guiding light.
The annual report Efling is published here on the association's website and also a copy of it is available at the reception of Efling trade union, Guðrúnartúni 1, for viewing by members.
Here you can find the signed annual report Efling of the trade union for the year 2025
